Adobe Systems Incorporated (ADBE) is Lathrop Investment Management Corp’s 2nd Largest Position

Lathrop Investment Management Corp maintained its position in shares of Adobe Systems Incorporated (NASDAQ:ADBE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 126,199 shares of the software company’s stock at the end of the second quarter. Adobe Systems makes up 4.8% of Lathrop Investment Management Corp’s portfolio, making the stock its 2nd largest position. Lathrop Investment Management Corp’s holdings in Adobe Systems were worth $16,422,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Guardian Life Insurance Co. of America boosted its position in shares of Adobe Systems by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,918 shares of the software company’s stock worth $250,000 after buying an additional 13 shares during the last quarter. Perigon Wealth Management LLC boosted its position in shares of Adobe Systems by 0.4% in the first quarter. Perigon Wealth Management LLC now owns 2,972 shares of the software company’s stock worth $387,000 after buying an additional 13 shares during the last quarter. Alpha Windward LLC boosted its position in shares of Adobe Systems by 0.9% in the first quarter. Alpha Windward LLC now owns 1,655 shares of the software company’s stock worth $215,000 after buying an additional 15 shares during the last quarter. Brown Advisory Securities LLC boosted its position in shares of Adobe Systems by 0.5% in the first quarter. Brown Advisory Securities LLC now owns 4,368 shares of the software company’s stock worth $569,000 after buying an additional 21 shares during the last quarter. Finally, HM Payson & Co. boosted its position in shares of Adobe Systems by 0.6% in the first quarter. HM Payson & Co. now owns 3,889 shares of the software company’s stock worth $506,000 after buying an additional 24 shares during the last quarter. Institutional investors and hedge funds own 88.05% of the company’s stock.

Adobe Systems Incorporated (NASDAQ:ADBE) traded up 1.12% during midday trading on Friday, hitting $146.54. The company’s stock had a trading volume of 598,635 shares. The company’s 50-day moving average is $145.66 and its 200 day moving average is $132.82. The company has a market cap of $72.30 billion, a price-to-earnings ratio of 51.04 and a beta of 1.00. Adobe Systems Incorporated has a one year low of $97.87 and a one year high of $150.40.

Adobe Systems (NASDAQ:ADBE) last announced its quarterly earnings data on Tuesday, June 20th. The software company reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.07. Adobe Systems had a return on equity of 20.06% and a net margin of 22.11%. The firm had revenue of $1.77 billion during the quarter, compared to analysts’ expectations of $1.73 billion. During the same period last year, the business posted $0.71 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, analysts predict that Adobe Systems Incorporated will post $4.06 EPS for the current year.

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A number of research analysts have commented on the stock. Vetr cut shares of Adobe Systems from a “buy” rating to a “hold” rating and set a $147.85 price target on the stock. in a research report on Thursday, May 25th. Barclays PLC raised their target price on shares of Adobe Systems from $155.00 to $161.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Stifel Nicolaus raised their target price on shares of Adobe Systems from $150.00 to $163.00 and gave the stock a “buy” rating in a report on Wednesday, June 21st. Piper Jaffray Companies raised their target price on shares of Adobe Systems from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Finally, Pivotal Research restated a “sell” rating and issued a $114.00 target price (up previously from $112.00) on shares of Adobe Systems in a report on Wednesday, June 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $154.20.

In other news, EVP Abhay Parasnis sold 12,500 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $149.38, for a total value of $1,867,250.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Ann Lewnes sold 1,953 shares of the firm’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $146.68, for a total value of $286,466.04. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,239 shares of company stock valued at $14,877,475. Company insiders own 0.38% of the company’s stock.

Adobe Systems Company Profile

Adobe Systems Incorporated is a software company. The Company offers products and services used by professionals, marketers, knowledge workers, application developers, enterprises and consumers for creating, managing, delivering, measuring, optimizing and engaging with compelling content and experiences.

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Institutional Ownership by Quarter for Adobe Systems (NASDAQ:ADBE)

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